The Investor's Guide To Joy Are You Protecting Your Wealth and Growing Your Business?
In this episode of The Investor's Guide to Joy, host Paul Graham and Stacy Calvin dive into essential financial strategies for business owners and high-income earners. They explore the benefits of diversifying investments through syndications, optimizing entity structures for tax efficiency, and leveraging income-shifting techniques. Stacy also shares actionable insights on liability protection, proactive financial planning, and the importance of aligning financial decisions with long-term goals.
The value of working with a knowledgeable CPA and provides tips for choosing the right one based on experience, qualifications, and strategic approach. Stacy debunks common myths about tax preparation and highlights how proactive planning can maximize deductions, reduce liabilities, and enhance financial outcomes. Packed with practical advice, this episode is a valuable resource for anyone seeking to optimize their finances and elevate their success.
Highlights of the Podcast
00:08 - Introduction
01:59 - Guest Introduction
02:58 - Investing Personally vs. Through a Business
07:28 - Top Strategies for Larger Businesses
11:58 - Finding the Right CPA
14:21 - Debunking Tax Myths
15:36 - Tax Strategies for Business Owners
17:32 - Real Estate Rules and Myths
20:06 - Trusts and Tax Misconceptions
23:34 - The Importance of Year-End Planning
27:04 - Best Practices for Six-Figure Earners
30:17 - Tailored Strategies for Seven-Figure Earners
31:31 - Diversifying Lifestyle Investments
32:41 - Tax Strategies for High-Income Earners
35:05 - Choosing the Right CPA
38:56 - CPA Fees: Value vs. Cost
44:47 - Mindset Shift: "Knowledge is Power"
45:34 - Closing Remarks